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A mutual fund company offers its customers a variety of

Probability and Statistics for Engineers and the Scientists | 9th Edition | ISBN: 9780321629111 | Authors: Ronald E. Walpole; Raymond H. Myers; Sharon L. Myers; Keying E. Ye ISBN: 9780321629111 32

Solution for problem 11E Chapter 1

Probability and Statistics for Engineers and the Scientists | 9th Edition

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Probability and Statistics for Engineers and the Scientists | 9th Edition | ISBN: 9780321629111 | Authors: Ronald E. Walpole; Raymond H. Myers; Sharon L. Myers; Keying E. Ye

Probability and Statistics for Engineers and the Scientists | 9th Edition

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Problem 11E

A mutual fund company offers its customers a variety of funds: a money-market fund, three different bond funds (short, intermediate, and long-term), two stock funds (moderate and high-risk), and a balanced fund. Among customers who own shares in just one fund, the percentages of customers in the different funds are as follows: A customer who owns shares in just one fund is randomly selected. a?. ?What is the probability that the selected individual owns shares in the balanced fund? b?. ?What is the probability that the individual owns shares in a bond fund? c?. ?What is the probability that the selected individual does not own shares in a stock fund?

Step-by-Step Solution:

Answer Step 1 of 4 In the given problem i have values 0.30’s,0.040’s,0.50’s,0.60’s and 0.75’ Her i am takin 0.3 high and low The low being 3L(0,1,2,3,4) The high being 3H(5,6,7,8,9) Step 2 of 4 The stem and leaf display is 3L/1 3H/56678 4L/00112222234 4H/5667888 5L/144 5H/58 6L/2 6H/6678 7H/5

Step 3 of 4

Chapter 1, Problem 11E is Solved
Step 4 of 4

Textbook: Probability and Statistics for Engineers and the Scientists
Edition: 9
Author: Ronald E. Walpole; Raymond H. Myers; Sharon L. Myers; Keying E. Ye
ISBN: 9780321629111

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